y2johnny wrote:Ffs. The guy has just stopped us from going into admin (for now at least) and it is his first foray into club ownership. Its been a whirlwind for fans all season and will have been exactly the same for deano and whoever else is involved. Lets give him a chance before we berate him at every twist and turn and publicise worst case scenarios constantly. LOV has already cornered that market.
I simply don't get the attitude of most people on this thread so far?
For years people have been alarmed (me included) about the financial set up at the club under Davies, namely it was seen as an accident waiting to happen and we were all concerned about the inevitable consequences. Well isn't this exactly the same?
Sports Shield, the business that Holdsworth set up, is the sole director of and which bought the club off Davies has not filed its accounts as it is legally required to do - fact.
Ok, he's been busy buying the club BUT the accounting period required was up to the 6th January a good TWO MONTHS before he paid his one pound for ownership of BWFC.
Sports Shield was set up NOT to specifically buy the club - at least it portrayed itself to be a more general investment company than solely put all its eggs into the Bolton basket, so why could it not get its accounts in order and submitted long before any takeover of Bolton occurred?
Is this just a trifling matter that Sports Shield didn't submit its accounts, well if SS IS the 'parent' company to which the club is tied to, then yes, it matters a great deal.
Southampton's parent company ran into financial difficulty in 2009 and that led to Southampton getting a 10 point penalty (these days the penalty is 12 points)
"The south coast outfit had hoped to avoid the punishment as they argued that it was their parent company Southampton Leisure Holdings plc (SLH) which had gone into administration on 2 April - not the football club.
But a League investigation by "independent forensic accountants" found that the football club and SLH were "inextricably linked as one economic entity" and applied their mandatory penalty.
The League also found that: "The holding company has no income of its own; all revenue and expenditure is derived from the operation of Southampton Football Club and the associated stadium company".
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I'm not sure why people now suddenly want to bury their heads in the sand about the new owners financial affairs after the shenanigans of the Davies regime but the like it or not, the way they financially run their business can and will effect the club we support directly and thus in my opinion public airing of the fact that Holdsworth has NOT submitted accounts for SS is in every Bolton fans interest to know and be concerned about.